LDO

Alert

Funding spread now, next payment 16:00 UTC−0.0314%/8h

next payment, per $10,000−$0.39paid, last 24h+0.010%paid, last 7 days+0.123%to open and close $10k−$44

Long on Polymarket Perps Short on Backpack

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.123% in total (about 6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps LDO-USD	0.4342	0.0100	pay 0.0013% / 1h	58m 24s	$27K	$1.5M	5x
Short	Backpack LDO_USDC_PERP	0.4337	−0.0214	pay 0.0027% / 1h	58m 24s	$87K	$191K	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee BackpackbpOrdersRate

Funding earned: −$65.96
Slippage, 4 orders: −$25.59
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$109.55
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Backpack: live order book, 56 min ago.

Price risk

price view

Price gap now: −0.120%
Avg gap 7d: −0.014%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Polymarket Perps live order book, 2 min ago	3.00 bp	7.9 bp −$8	8.6 bp −$86	doesn't fit	doesn't fit
Sell Backpack live order book, 56 min ago	1.85 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit

LDO on 28 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International LDO-PERP-INTX	−0.1248%	1h	$115K	$42K	50x	as long as short
Backpack LDO_USDC_PERPshort	−0.0214%	1h	$87K	$191K	10x
Deribit LDO_USDC-PERPETUAL	−0.0211%	1h	$3K	$10K	25x	as long as short
Kraken Futures PF_LDOUSD	−0.0095%	1h	$1.1M	$543K	50x	as long as short
dYdX LDO-USD	0.0000%	1h	$83K	$17K	5x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	$4K	$136K	12x	as long as short
Bybit LDOUSDT	+0.0085%	8h	$16.5M	$12.5M	50x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	$3K	$56	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	$12.4M	$3.5M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	$168K	$312K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Pacifica LDO	+0.0100%	1h	$111K	$188K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	$18.0M	$38.0M	75x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	$4.0M	$9.6M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	$1.4M	$1.1M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	$10.0M	$7.3M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	$2.5M	$4.1M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	$3.3M	$3.7M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	—	$4.8M	—	as long as short
Variational Omni LDO	+0.0100%	8h	$223K	$154K	—	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	$33K	$647K	50x	as long as short
Polymarket Perps LDO-USDlong	+0.0100%	1h	$27K	$1.5M	5x
SunX LDO-USDT	+0.0100%	8h	$1K	$1.4M	20x	as long as short
Extended LDO-USD	+0.0104%	1h	$260K	$1.0M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	$38K	—	3x	as long as short
BloFin LDO-USDT	+0.0105%	8h	$832K	$152K	75x	as long as short
Lighter LDO	+0.0256%	1h	$883K	$265K	10x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0300% / S −0.0178%	1h	$24K	—	100x	as long as short
Reya LDORUSDPERP	+0.0324%	1h	$302K	—	15x	as long as short